What was the price of stock at the end of the day

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At the beginning of the day, you purchased 300 shares of stock for $75 a share with an initial cash investment of $12,000. Your broker requires a 30 percent maintenance margin. At the end of the day, you took care of the margin call by depositing additional $500 in your brokerage account. What was the price of stock at the end of the day? [Hint: Focus on the alternative (a) of the earlier problem. You do not know the price, but you know how much additional amount you brought as a security deposition. Then solve the problem.]

Reference no: EM13868407

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